The Racialization of Academic Funding
Wider social factors also influence the ability of people of color to self-fund their education. As William Darity Jr., Darrick Hamilton and their colleagues have shown, deep racial differences in family wealth persist. Black and Latino families have fallen farther behind since the Great Recession, such that the “median black family has $7,113 in wealth, while the median white family has $111,740 in wealth.” The numbers are similarly stark for Latina/os. Those disparities are directly traceable to racist social policies like redlining, subprime lending and educational segregation, and they may make self-funding more difficult for nonwhite students.
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